The founder of baclist.com is Mike Regan, an entrepreneur with years of experience in residential real estate, software development, and process improvement consulting. He is also founder of Relevate Real Estate, a midsized independent brokerage in Raleigh, NC (baclist.com is not related to Relevate Real Estate).
We built baclist.com as a service to real estate agents because we feel the current often-recommended arrangement of sellers offering to pay buyer agent commission is truly best for clients and should be able to continue uninterrupted. Mike Regan wants to share equity (stock options) in Baclist.com as broadly as possible among those who share this necessary compensation communication tool with others so we can all continue serving our clients in the best possible ways.
The settlement stipulates that offers of compensation to buyers agents be made off-MLS. This site provides that necessary function.
Our top priority is to protect agents, their firms, and this site from future litigation similar to the current commission lawsuit. As a result, both the listing agent and the buyers agent will be required (separately), before closing, to upload this Seller Hold Harmless Agreement, and/or this Buyer Hold Harmless Agreement (or an equivalent document approved by baclist.com) signed by each of their clients, depending on which you represent, or both. This document, or the wording included in equivalent documents, may change in the future based on the advice of our attorneys.
Baclist.com is a means of communicating offers of compensation, not a guarantor. All buyer agents utilizing baclist.com agree to include a compensation agreement, approved by appropriate legal authorities in their state, with all offers. That document is the means to ensure buyers agent are compensated for representing the buyer(s) who closes on a property.
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7501 Creedmoor Road, Raleigh, NC 27613